Industrial Condo with Dock
For Sale
$275,000
1 Tupperware #4D, North Smithfield, RI 02896
1,972 SF industrial condo with flexible layout for sale.
Property Size2,136 SF
Price / SF$139.45
Days on Market122
Property Features for 1 Tupperware #4D
General Information
Standard status
Active
Size
2,136 SF
Property subtype
Commercial
Zoning
Commercial, Legal Conforming
Taxes and HOA fees
Annual Taxes
$1,042
Building Details
Building Size
2,136 SF
Year Built
1904
Listing Agency:
Gold Door Realty
(401) 396-2888
Listed By:
Kamil Sarji
(401) 396-2888
Source:
Startpoint
Added: Apr 25
Changed: Aug 23
Last Checked: Aug 22 at 1:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gold Door Realty
Investment Insights
Based on property information with market context.
This industrial condominium unit offers approximately 1,972 square feet of space. It is located at 1 Tupperware Drive, Unit 3, within the High Rocks commercial complex. The building features brick warehouse construction with a built-in office area. It includes dock-high loading access with canopy coverage. The flexible industrial layout is suitable for storage, contractor operations, light distribution, or owner-user occupancy, subject to association approval. The association is professionally managed and provides municipal water and sewer services. At the time of listing, there were no known pending assessments.
Key Highlights
- Dock‑high loading access with canopy coverage for efficient operations.
- Flexible 1,972 sq ft industrial space suitable for various uses.
- Built‑in office area within the unit.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,192
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$243,840
$243.8K
Cap Rate 7%
$174,171
$174.2K
Cap Rate 9%
$135,467
$135.5K
Market Conditions
NOI Build-Up for 1,972 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$19.6K $9.96/SF
− Vacancy
−$884 −$0.45/SF
EGI
$18.8K $9.51/SF
− OpEx
−$6.6K −$3.33/SF
NOI
$12.2K $6.18/SF
Area
Providence County, RI
Vacancy
4.50%
Lease Rate
$9.96 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$243,840
Cap Rate 7%
$174,171
Cap Rate 9%
$135,467
Alternative Uses
Best Use
Flex RnD
$174.2K
$152.4K – $203.2K
NOI $12,192 @ 7.0% cap · market cap 4.43%
Second Best
Industrial
$147.0K
$128.6K – $171.5K
NOI $10,291 @ 7.0% cap · market cap 3.74%
Theoretical Best
Multifamily LT 5
$469.1K
$410.4K – $547.3K
NOI $32,835 @ 7.0% cap · market cap 11.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 02896, RI
11,154
Population
4,759
Households
2.3
Avg Household Size
48
Median Age
34%
College-Educated
94%
High-School Grad
23.0 sq mi
ZIP Area
485
Density / Sq Mi
$109,436
Median Household Income
$57,420
Median Earnings
$1,282
Median Rent
$423,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 1,972 SF industrial condo with flexible layout for sale.
Where is this flex space located?
The property is located at 1 Tupperware #4D North Smithfield, RI.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Dock‑high loading access with canopy coverage for efficient operations.; Flexible 1,972 sq ft industrial space suitable for various uses.; Built‑in office area within the unit.
